Buoyant Origin to give €100m to shareholders

Agri-services business, Origin Enterprises is set to return up to €100m to shareholders, via a tender offer, on top of increasing its full-year dividend payment.

The Dublin-based group, which is nearly 70% owned by Irish-Swiss bakery group, Aryzta, is making the move, which is expected to be formally passed at an EGM in November, on the back of the recent completion of the sale of its non-core marine proteins and oils business.

Origin completed the €93m sale of its 50% stake in the Welcon Invest joint venture — to its Norwegian partner, Austevoll Seafoods — last month.